Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter 20.6, Problem 20.6AQ
Summary Introduction

To determine: The way to make sure whether the finances and identity of an individual are secure.

Introduction:

RFID is a technology where the data is stored after encoding in a device and then the data is decoded by the receiver machine. Encoding of data is done in RFID tags.

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At the end of the day, banks have to make money to survive. They make their money by charging interest on loans, or by selling CDs (Certificate of Deposit). In both cases, they intend to make money off of your money! Before a bank enters into a legal contract with you as their customer, they want to know all they can about you, your financial history, your current situation, and your financial future so they can make a wise choice. To make these decisions, banks walk very fine lines of ethics and privacy.  Describe the internal activities a bank manager should engage in to make sure employees are aware of required compliance with the Policy - be specific.
In your own words: 1. Before the Glass/Steagall Act what were commercial banks doing with depositor money to cause them to lose their money? 2. What in the Glass/Steagall Act prevented the banks from doing that again?
Suggest a list of security policies for banks (at least 6) that can be used/deployed in least amount of time.
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